The reflation trade is so strong today, even the EUR is getting a boost.
Chalk up a portion of the rally to squaring ahead of the very long weekend in Europe and part to the fundamentals. Markets are somewhat thin, making us more vulnerable to a further squeeze to the topside. 1.35702 remains my key level to watch. A break targets the daily downtrend at 1.3619. EUR/USD trades at 1.3551 after reaching the 1.3565 level a few moments ago.